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Sudatel Telecom turns to $26 losses in Q1-24

Sudatel Telecom turns to $26 losses in Q1-24
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Abu Dhabi – Mubasher: Sudatel Telecom Group incurred net losses valued at $25.96 million in the first quarter (Q1) of 2024.

The negative results were compared with net profits worth $16.97 million in Q1-23, according to consolidated interim financial results.

Total operating revenues hit $80.17 million in Q1-24, compared to $142.29 million in Q1-23.

Basic and diluted loss per share attributable to the owners amounted to $0.019 as of 31 March 2024, versus earnings per share (EPS) of $0.012.

Total assets reached $922.26 million in Q1-24, versus $1.10 billion at the end of December 2023.

In 2023, the group posted an annual drop in net profit to $24.99 million, compared to $56.85 million.